From the beeb:
"Payday lender Wonga must pay £2.6m in compensation after sending letters from non-existent law firms to customers in arrears.
The letters threatened legal action, but the law firms were false. In some cases Wonga added fees for these letters to customers' accounts.
The City watchdog, the Financial Conduct Authority (FCA), said 45,000 customers would be compensated."
Unbelievable, and all of a sudden the cuddly TV adverts of the old fogie cartoon characters evaporates as we see what kind of company they really are, sharks.
Absolutely disgusting. I only hope that as the economy improves and the cost of living comes down that these pay day sharks all disappear where they came from, and stop preying on the desperate, needy and the gullible.
If people are excluded from mainstream credit options, then go and track down a credit union.
